Published
May 2, 2019
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Shoppers Stop Q4 profit plummets 45 percent to Rs 11 crore

Published
May 2, 2019

Retail chain Shoppers Stop saw its net profit for the fourth quarter plummet 45 percent to Rs 11 crore ($1.6 million) as compared to a net profit of Rs 21 crore it has posted in the same quarter a year ago.
 

Shoppers Stop Q4 profit plummets 45 percent to Rs 11 crore - Shoppers Stop


The company’s revenue for the quarter also dropped to Rs 796 crore as against Rs 851 crore it had reported in the corresponding quarter of FY18.
 
For the financial year 2018-19, Shoppers Stop standalone net profit jumped to Rs 79 crore from Rs 12 crore in the year ended March 2018.

However, the total income declined to Rs 3,499 crore in FY 2018-19 as against Rs 3,608 crore in the previous fiscal. Shoppers Stop said that the drop in revenue was due to the new accounting standards and therefore cannot be compared.
 
Commenting on the results, Shoppers Stop’s managing director and chief executive officer Rajiv Suri said, "Last year has been a pivotal year in Shoppers Stop which makes the company embarks on positive growth and results. We have made key investments in the new leadership team and are aiming for sustainable and industry-leading growth in the years ahead.”
 
Shoppers Stop closed the financial year 2018-19 with a store count of 83 spread across 39 cities in the country. The company also operates 12 Home Stop and 115 specialty beauty stores.

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